On March 17, 1931, T. Van Clagett, T. Van Clagett, Jr., Adrian P. Fisher, William T. Davis, LeRoy Pumphrey and Samuel A. Wyvill, a group of local businessmen, founded Prince George's County Suburban Home Building Association, Inc. The office was located in the present Maryland Home Title Company Building located at 14714 Main Street, Upper Marlboro, Maryland. The main objective of this group was to raise capital for lending to local people in the Southern Maryland area for financing the purchase and construction of homes.

The Association's first president was T. Van Clagett; followed by T. Van Clagett, Jr., Samuel A. Wyvill, Robert Y. Clagett and the current president, Hal C. Rich III. Mildred S. Mandell became Secretary in 1936 and managed the Association until her retirement in July 1966. Hattie A. Maenner became the Managing Officer in August 1966, and maintained that position until her retirement in December 1992, at which time Hal C. Rich III became Managing Officer.

Prince George’s Federal Savings Bank is currently a member of the Federal Home Loan Bank of Atlanta, The Federal Reserve Bank of Richmond, American Banker's Association, Independent Community Bankers of America and the Maryland Bankers Association. The bank’s deposits are insured by the Federal Deposit Insurance Corporation and subject to regulation and supervision by the Treasury Department’s Office of Thrift Supervision.

The philosophy of the Savings Bank today remains the same as the original Association in 1931, and that is to provide a safe place for people to save money and to invest those assets in mortgage loans for the construction of homes and purchase of residential properties in Prince George's, Anne Arundel, Calvert, Charles and St. Mary's counties. Prince George's Federal has had a dynamic influence on the economy of Southern Maryland and will strive to continue this in future years.